Refresco Beverages leases 364,084-square-foot warehouse in Tampa

TAMPA, Fla. (May 13, 2020) – Refresco Beverages US, Inc. has leased a 364,084-square-foot industrial space in Tampa to serve as its distribution warehouse. The 10-year lease, valued at $18 million, is one of the largest new industrial leases in the Tampa Bay region since 2014. It is Refresco’s third warehouse location in the area.

Ryan Vaught and Robyn Hurrell of Colliers International represented the landlord, RealOp Investments. Foundry Commercial represented the tenant.

The property, located at 5210 S. 16th Avenue in Tampa, was previously home to Southern Glazer Wine & Spirits. RealOp purchased the property last year for $16.5 million, as the previous owner moved to Lakeland to consolidate its operation.

Refresco Beverages US Inc. is a North American subsidiary of a Netherlands-based soft drink bottler and distributor. The company is one of the largest bottlers in North America and works with national and international retailers and multinational brands.

“It made a lot of sense for another beverage distributor to take over this property,” said Vaught, Executive Managing Director, Industrial Services at Colliers International in Tampa. “The property is in close proximity to their existing locations and will give Refresco the space they need to grow their operation.”

The transaction will grow Refresco’s footprint in the Tampa market by nearly 50%. The property includes approximately 18 acres of land for trailer parking.

“Certain industries are still very active in the midst of the COVID-19 pandemic, and the food and beverage industry is one of them,” said Hurrell, Managing Director, Industrial Services at Colliers International in Tampa. “In general, we’ve seen industrial users in Tampa require larger spaces as demand grows, particularly for food and beverage, ecommerce and healthcare. This lease is the perfect example of this growing trend.”

Refresco is expected to move into the space in July.

About Colliers International Group Inc.

Colliers International (NASDAQ: CIGI) (TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, has delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. To learn more about how we accelerate success visit, Twitter: @Colliers or LinkedIn.

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